Couple of months ago, I've invested exactly 3 BTC into Steem at 23000 satoshi price. Now it the price is almost 53000 satoshi.
I have made a +128% profit, plus what I have earned from posting and such. I have to say I am genuinely shocked, positively. I have never thought that Steemit would be so great.
First I had my doubts about the inflationary scheme, but I knew that once the network effect kicks in, the demand will overlap the inflation. Just like in Bitcoin where nobody cares about the minted coins, but rather the fees themselves are the problem.
In Steem, the fees are null. This is genius. So Steemit has the potential to grow exponentially and to potentially replace all other legacy social media.
Making 18,000$ is also pretty interesting, and I really wanted to invest more initially, unfortunately most of my capital is locked down in other places. But even this money is nice. I know for a fact that for most people where the daily income is 1$, Steemit can be a life changer.
Africa and other 3rld world places can easily become 1st worlds if we reward talented people and disincentivize lazy people. This is how progress is made.
So Steemit is awesome, it's my favorite social media, and I wish it will continue to grow and flourish!
Sources:
Nice! Glad you were able to turn a great profit like that!
I'm all thumbs when it comes to investing...
😄😇😄
I have made more profits in other places, but I can't really complain can't I? A
+128%profit is not something I'd complain about, usually! :DIf I'd put my wealth in shitty government bonds with -1% yearly interest rate ROI, then I would be very stupid.
Yeah - guv'mint really sucks... I avoid it like the plague. ;)
BUY Crypto, SELL the US toilet paper dollar!
The dollar will begin its 18 year cycle with a 9 year downturn period to the eurocurrencies as it always has done. This will probably be very bullish for precious metals as well.
Check out this post for more on the cycles of weakening US dollar and the current state of the dollar.
https://steemit.com/dollar/@sjovmaiin/the-coming-fall-of-the-us-dollar
No one ever went broke making a profit - good job.
Well as the username says, there is nothing wrong with making some profits.
Very nice ROI + you have interest on your steem power.
Amazing job!
Yes I am curating 86% of my voting power.
this is great to hear:)
Very nice! With Steemit (and Steem) I think many of us had that rare chance to become part of a "ground floor opportunity." Congratulations on your profit!
I have to give credit to @dollarvigilante, I saw Steemit on his videos on Youtube. Then I researched it on Bitcointalk, and I instantly knew that money can be made here.
Yeah, I know Jeff had one by now quite "famous" post that make over $15K under the original rewards system... oddly enough, I ended up here because of an article about Vivacoin... published on Steemit.
To me, I would like to thank flipboard for bringing me the news of steemit way back last July 2016.
Let's hope there are more gains to be had!
Lets hope for the best of the whole platform.
I'm certain there are, I expect at least 10x more.
What guides do you recommend to help us noobs optimize the experience?
What do you mean?
I just mean like what methods have you used to be successful on this platform, what in your opinion works, what doesn't?
https://steemit.com/steemit/@profitgenerator/quick-tutorial-to-maximize-steemit-profit
meep
Steemit indeed is an amazing platform.
It seems to me everyone here just exchanged their BTC for other cryptocurrency investment. Anyone doesn't have the default BTC mode first?
Of course, that makes sense, BTC can barely make 30% profit now, and the fees are horrible.
Altcoins make 100-1000% profits constantly and fees are tiny.
Suppose one doesn't have BTC first? I am, a newbie.
Good job man, it's good to see people doing well all over steamit
Well done :-)
Incredible, I started as a daytrader, you said it all, in third world countries, $ 1 makes a difference, I'm a beginner trader, I use bitcointalk to supplement income and I realized that I spent a lot of time sometimes to earn something, I thought having a blog to post what I learned and be better paid, steemit fell like a glove for me, you are an example for all, beautiful work!
Hi @profitgenerator, I have been on Steemit for a few months. Recently I have started blogging daily on the top 10 crypto market. Do you have any tips for a new blogger on how to generate rewards? Not looking to get rich, but would like to make Steemit work so that I can keep my content free for all AND manage to pay the bills. My other option is to go to marketing with a private website to sell these services on a subscription basis... I like the Steemit concept. How do I best make this work? Thanks!